Published on 7/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.21 million autocallable contingent interest notes on three indexes
New York, July 24 – JPMorgan Chase Financial Co. LLC priced $1.21 million of autocallable contingent interest notes due Jan. 3, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 8.7%, paid monthly, if the worst performing index closes at or above its 70% trigger level on the related valuation date.
The securities will be called automatically at par if each index closes at or above its initial level on any monthly review date starting Oct. 2.
At maturity, the payout will be par if each index finishes at or above its trigger level. Otherwise, investors will lose 1% for every 1% decline of the worst performing index from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,211,000
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| Maturity: | Jan. 3, 2025
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| Coupon: | 8.7%, paid monthly, if the worst performing index closes at or above its 70% trigger level on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above trigger level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par if each index closes at or above its initial level on any monthly review date starting Oct. 2
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| Initial levels: | 4,450.38 for S&P 500, 1,888.734 for Russell 2000, 34,407.60 for Dow Jones
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| Trigger levels: | 3,115.266 for S&P 500, 1,322.1138 for Russell 2000, 24,085.32 for Dow Jones, or 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48133XZB5
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